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Mar 26, 2013
03/13
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it was a much different environment. the move you're talking about from march of '93 to march of '94, the underlying fundamentals of the u.s. are economy are completely different. the fight was completely different a well. >> it's fair to say we're in a different environment in terms of the fed. absolutely. interest rates alone tell you that story. folks i know expect to see a big correction in credit. it will have different characterist characteristics. one guy told me he expects to see widening credit spreads which you wouldn't normally in this case. where i mentioned the bank balance sheet and the lack of gses, at least size of gses we once had, he worries about the effect where it's not easy to lay off risk. >> it's difficult to have a 1 1994, buying everything they can get their hands on. these guys talking about this implosion in the bond market, are they long or short the stock market? to me, it's the same trade. >> that's a great question. i was talking to one guy about this last week. he said, look, i wouldn't s
it was a much different environment. the move you're talking about from march of '93 to march of '94, the underlying fundamentals of the u.s. are economy are completely different. the fight was completely different a well. >> it's fair to say we're in a different environment in terms of the fed. absolutely. interest rates alone tell you that story. folks i know expect to see a big correction in credit. it will have different characterist characteristics. one guy told me he expects to see...
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Mar 18, 2013
03/13
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for so long we were talking about the regulatory environment in the united states. i mean, is that not an issue anymore? you have the london wale implications at jpmorgan. is that going to force vocal rules to actually get implemented? is that not a worry anymore for you, for the banks? >> the regulatory changes are always a worry for me. because they're like a drone attack. all of a sudden you don't know where they're coming from. all of a sudden a new, you know, other or new politician is creating one for their own political ambition. or the rules are changing constantly. so you're always on the defense. i think as far as the banks are concerned, and as far as, you know, what happened on friday with jpmorgan is concerned, it is clear that you have across the aisle, bipartisan support to go after the financials and go after the banks. the banks now being so well capitalized are also a great place to go and try to exact money. exact funds. that's certainly what the consumer finance protection bureau is doing. i think that's what a.g.s are going to do. it will be a s
for so long we were talking about the regulatory environment in the united states. i mean, is that not an issue anymore? you have the london wale implications at jpmorgan. is that going to force vocal rules to actually get implemented? is that not a worry anymore for you, for the banks? >> the regulatory changes are always a worry for me. because they're like a drone attack. all of a sudden you don't know where they're coming from. all of a sudden a new, you know, other or new politician...
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Mar 18, 2013
03/13
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he had the environment in the first quarter to do it. credit spreads contracted significantly, volatility low. let's go to the strength of morgan stanley, global wealthy management. investment banking. profits up 50%, no one is talking about the hiring of gary cominski, our gary cominski. >> that's a game changer! >> let's not laugh it off. i've known gary over 20 years. morgan stanley is reaching out to do something interesting. gary is not going to go to an entity in which he believes the stock of that entity will fall. >> did he bulldoze? >> i agree with the points he's making. i'm long on financials. from a trading aspect, perception is reality as you well know. whether it's true or not, when there's concern out of europe, morgan stanley gets hit first and hardest. i want to stay long on the jpmorgans but morgan stanley is sittingprecariously on the long day average. if the banks go below the $22 range i think it's going back to 20. >> stephanie, who won? >> i think mike did, not necessarily for the european commentary but because i
he had the environment in the first quarter to do it. credit spreads contracted significantly, volatility low. let's go to the strength of morgan stanley, global wealthy management. investment banking. profits up 50%, no one is talking about the hiring of gary cominski, our gary cominski. >> that's a game changer! >> let's not laugh it off. i've known gary over 20 years. morgan stanley is reaching out to do something interesting. gary is not going to go to an entity in which he...
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Mar 19, 2013
03/13
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and it's still a risk-on/risk-off environment that we have to be cautious. yes, there's room to grows and investors have totally forgotten about europe since last summer. don't be surprised if it comes back later on this year. and quite heavily. >> how does it come back, though? is it the banking sector? specifically, let's talk about actual impacts to the u.s. market. >> well, the impact has a lot to do with the concern of where we're going, the kind of money we're spending and the kind of debt we have. you know, we're not too far behind europe. and obviously, we're a long way away from greece, but when you look at germany and france and some other companies, it's still a very dangerous environment. they still have a very low to negative growth rate. we're still looking at positive. you know, we had some good response from the housing market earlier today, but we still need to be very, very cautious. yes, there's room to grow. prices of stocks are not overvalued by no means. but we still need to be very cautious of where we're going in terms of debt and the
and it's still a risk-on/risk-off environment that we have to be cautious. yes, there's room to grows and investors have totally forgotten about europe since last summer. don't be surprised if it comes back later on this year. and quite heavily. >> how does it come back, though? is it the banking sector? specifically, let's talk about actual impacts to the u.s. market. >> well, the impact has a lot to do with the concern of where we're going, the kind of money we're spending and the...
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Mar 26, 2013
03/13
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groan capital says hdd environment remains stable and that mix could drive a gross margin up side. sue, back over to you. >> thank you very much. seema. to the bond market where rick santelli is tracking the action at the cme. rick, you see fitch is placing cyprus on ratings watch negative. you think? >> yeah, you know, i know, it reminds me of many of these firms when they upgrade an outlook that's got from 150 to 297. that's when they make the call. you know, when it comes to treasuries, everyone wants to put them in the ground, but it's not soup yet. look at a two-day chart of tens. 190, we keep knocking the door, open the chart up month to date, boy, we're coil. 190 seems to be the technical threshold. if we look at a chart of the spread between r-10s and ten-year bunds, 60 basis points. we're knocking at the point. we very closed or above 60 basis points since mid-2010. if you look at a two-day chart of that, it's knocking at a key level as well, 83. if you open the chart up to one year, it's coil as well. it's all about big levels, but not necessarily big moves taking them ou
groan capital says hdd environment remains stable and that mix could drive a gross margin up side. sue, back over to you. >> thank you very much. seema. to the bond market where rick santelli is tracking the action at the cme. rick, you see fitch is placing cyprus on ratings watch negative. you think? >> yeah, you know, i know, it reminds me of many of these firms when they upgrade an outlook that's got from 150 to 297. that's when they make the call. you know, when it comes to...
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Mar 21, 2013
03/13
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you mix them all up together and you get the absolute perfect environment for the fed reserve to stay stock market friendly. that's exactly what happened today. ben bernanke allowed the averages to power higher. dow gained 56 points. the s&p rising today, nasdaq jumping .78%. it's not sleight of hand or alchemy at work here, despite what critics say when they constantly slam the fed. >> boo! >> bernanke is not playing a game of move the stock market higher by simply continuing to keep the competition from bonds incredibly weak. he's got a real good reason for doing what he's doing, which is staying the course, keeping rates low. that reason? 1937. see, ben bernanke is a rigorous guy. he's a professor and a genuine scholar of american financial history. it's what he does best. he knows that in 1937 after three years of 12% economic growth that took unemployment from 25% down to 14%, the fed, the president, congress, declared victory over the great depression. ♪ hallelujah >> washington raised income taxes on the wealthy. >> boo! >> took the top marginal rate to the astounding 75% and
you mix them all up together and you get the absolute perfect environment for the fed reserve to stay stock market friendly. that's exactly what happened today. ben bernanke allowed the averages to power higher. dow gained 56 points. the s&p rising today, nasdaq jumping .78%. it's not sleight of hand or alchemy at work here, despite what critics say when they constantly slam the fed. >> boo! >> bernanke is not playing a game of move the stock market higher by simply continuing...
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Mar 22, 2013
03/13
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government and business can come together to ensure that the job is done safely and does not impact the environment in a harmful way. it is imperative we effectively use the resources this country happens to be rich in. but of course, if only it were that easy. in a matter of months, the obama administration will have to decide whether to permit the keystone pipeline. a 2,000-mile conduit from the canadian oil sands, seeking ports on the gulf of mexico. environmentalists have made stopping the pipeline their number one priority. but about two weeks ago, the white house released the results of the state department's impact statement on keystone which said the impact would be nil. and yet, still no movement on the passage of this pipeline, which is estimated to have the potential to create millions of new jobs. meanwhile, there's a fight over shale gas. something this country has in abundance. so much so, america could become energy independent. the fact is, we need to move forward on multiple tracks, not just one track. why not employ all of the above strategy? keep pushing for cleaner, renewable en
government and business can come together to ensure that the job is done safely and does not impact the environment in a harmful way. it is imperative we effectively use the resources this country happens to be rich in. but of course, if only it were that easy. in a matter of months, the obama administration will have to decide whether to permit the keystone pipeline. a 2,000-mile conduit from the canadian oil sands, seeking ports on the gulf of mexico. environmentalists have made stopping the...
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Mar 20, 2013
03/13
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now, that might be terrible for the environment. but it's darn cheap. and if coal volume starts coming back because of the switch, well, that's the holy grail of the railroad business. because the truck don't too well. i bring this up, because we're playing a game. a new game here on "mad money." it's called oligopoly. no free parking, no passing go and sadly no community chest. but unlike monopoly where you make money, it's fake, right, in the investor game we can help you make real money. amazing when it comes to the railroads we have the situation where the truth is stranger than fiction. le of golly is where a small number control all the business. we know pennsylvania, redding, b & o. still baltimore and ohio by the way. the short line. you know what? in a bizarre coincidence, 90% of the rail freight in the united states belongs to just four companies. but this is not an industry where you have four companies generally competing against each other, even though you'll see some overlap. you have two in the east, csx and norfolk southern. and burlingt
now, that might be terrible for the environment. but it's darn cheap. and if coal volume starts coming back because of the switch, well, that's the holy grail of the railroad business. because the truck don't too well. i bring this up, because we're playing a game. a new game here on "mad money." it's called oligopoly. no free parking, no passing go and sadly no community chest. but unlike monopoly where you make money, it's fake, right, in the investor game we can help you make real...
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Mar 25, 2013
03/13
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what the united states is offer something a more stable environment. yes, of course, it's sluggish growth. and it also offers something call dividend. if you have bank deposits that will now be uninsured, where can you put your money? in the united states we have limits as well in terms of how much federal insurance we cover deposits. but if you put your assets in a company stock that has a solid balance sheet. yes, you will get flexuation but the dividend is a nice alternative rather than waking up and the government telling you that you lose 30% of your money. >> that woultd be a bad wake up call. so, now, check out the yahoo! finance question of the day. how are you positioning the international holdings in your portfolio? we'll bring you the results later in the show. let's go to josh with the market flash. >> check out thetanking now. the analysts saying that they are gaining on check point. conversations indicate a marketed increase in share losses in the past several months. sue, back to you. >> thank you very much. it's risk off today. we're of
what the united states is offer something a more stable environment. yes, of course, it's sluggish growth. and it also offers something call dividend. if you have bank deposits that will now be uninsured, where can you put your money? in the united states we have limits as well in terms of how much federal insurance we cover deposits. but if you put your assets in a company stock that has a solid balance sheet. yes, you will get flexuation but the dividend is a nice alternative rather than...
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Mar 22, 2013
03/13
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it's really just a story of picking the companies that are able to perform in this environment. i think that's what's going to get you through. >> i would suggest that the whole market is priced for perfection at this point. >> what's priced for perfection? if you're talking about a p.e. of 13, 14, is that overvalue? >> i think you have to go back to, you know, what i've said, is that e., you have to be very careful at how you look at that e., that earnings number. that earnings number is based on what i believe is a false earnings number, on rates that are far too low. i think you're going to start to see some of that drift up. and you're going to see, i think, we're going to realize in retrospect that this market is not as cheap as it looks, and just at 13 by itself, you cannot look at that number in a vacuum, that we do have a swaluativalua problem there. >> gentleman, thank you very much. we'll be watching. next week will be a big week. >>> up next, nowhere to hide. a new internet sales tax could be on the way. we'll take you live to washington and get the latest development
it's really just a story of picking the companies that are able to perform in this environment. i think that's what's going to get you through. >> i would suggest that the whole market is priced for perfection at this point. >> what's priced for perfection? if you're talking about a p.e. of 13, 14, is that overvalue? >> i think you have to go back to, you know, what i've said, is that e., you have to be very careful at how you look at that e., that earnings number. that...
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Mar 22, 2013
03/13
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we need to protect their environment. we have a strict quarantine system to protect the integrity of the environment. forty years on, it's still a class-a nature reserve. it's our job to look after them. ...it's my job to look after it. ♪ >>> welcome back to "the kudlow report". in this half hour, the department of homeland security is on a buying binge. 1.6 billion rounds this past year and it could be putting police departments at great risk. just what the obama administration needs with all that ammo. what are they up to? then we have the liberal left coast striking again. stanford university strikes a popular pro capitalism course from its curriculum. yet it keeps one that is anti-free market. what is up with that? this is what passes for free speech out there. david horowitz will weigh in. small business may be bracing obama care making some companies less profitable once the law takes full impact. in fact "new york times" did a case study today on baked in the sun, a california bakery. the company could lose a sta
we need to protect their environment. we have a strict quarantine system to protect the integrity of the environment. forty years on, it's still a class-a nature reserve. it's our job to look after them. ...it's my job to look after it. ♪ >>> welcome back to "the kudlow report". in this half hour, the department of homeland security is on a buying binge. 1.6 billion rounds this past year and it could be putting police departments at great risk. just what the obama...
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Mar 26, 2013
03/13
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the environment seems to be improving. pinnacle can always do another acquisition. the company is paying you to wait to get their house fully in order with that great dividend. let's not forget, last week ken powell was on the show, he told us that food inflation has peaked and competition is less fierce? that could help these guys. pinnacle foods reminds me of long-time "mad money" winner b&g. they've got some truly iconic ones under the roof. i think you should try to get in on this ipo. that's why i did this story money. call your broker tomorrow. i like it even if they raise the price. even if they take it up to $22 a share. at that point, let's pause, that may be too high. after the break, i will try to make you more money. >>> coming up -- invest in innovation. it's not the latest gadget that could drive profit in your portfolio. medical science is leading the way with breakthrough technology. tonight, cramer's kicking off a week-long series highlighting some of the most revolutionary companies that may be heading higher. >>> when the market was really getting
the environment seems to be improving. pinnacle can always do another acquisition. the company is paying you to wait to get their house fully in order with that great dividend. let's not forget, last week ken powell was on the show, he told us that food inflation has peaked and competition is less fierce? that could help these guys. pinnacle foods reminds me of long-time "mad money" winner b&g. they've got some truly iconic ones under the roof. i think you should try to get in on...
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Mar 25, 2013
03/13
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the environment seems to be improving. pinnacle can do another acquisition. the company is paying you to wait to get their house in order with that great dividend. let's not forget, last week ken powell was on the show, he told us food inflation has peaked and competition is less fierce? that could help. pinnacle foods reminds me of long-time "mad money" winner b&g. they've got truly iconic ones under the roof. i think you should try to get in on this ipo. that's why i did this story money. call your broker tomorrow. i like it even if they raise the price. even if they take it up to $22 to share. at that point, let's pause, it may be too high. after the break, i will try to make you more money. >>> coming up -- invest in innovation. it's not the latest gadget that could drive profit in your portfolio. medical science is leading the way with breakthrough technology. tonight, cramer's kicking off a week-long series highlighting some of the most revolutionary companies that maybe heading higher. be heading higher. >>> when the market was really getting hammered
the environment seems to be improving. pinnacle can do another acquisition. the company is paying you to wait to get their house in order with that great dividend. let's not forget, last week ken powell was on the show, he told us food inflation has peaked and competition is less fierce? that could help. pinnacle foods reminds me of long-time "mad money" winner b&g. they've got truly iconic ones under the roof. i think you should try to get in on this ipo. that's why i did this...
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Mar 22, 2013
03/13
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. >> well, let me ask you about the environment, broadly speaking, in terms of the corporate side of the story, byron. because, of course, we know this week, we saw deterioration in the transports. we saw fedex reporting disappointment. oracle reported disappointment. cart pillar come under some pressure. is this indicative of a tough earnings period in the first quarter? >> that's what i think, maria. but the market doesn't seem to care. the market doesn't care about anything. it doesn't care about cyprus. doesn't care about disappointing earnings. as long as this money is flowing into the -- you know, out of the fed, stocks keep going higher. >> but in the meantime, we've had some -- many analysts, actually, market strategists, come out in the last week, week and a half, raising their estimates for where the s&p will close for this year, because they see the impact that fed policy has had on this market. so, why not just ride the market higher here, byron, and wait for the fed to change its mind? >> well, i don't -- you know, phil, i'm worried that some of the strategists that are
. >> well, let me ask you about the environment, broadly speaking, in terms of the corporate side of the story, byron. because, of course, we know this week, we saw deterioration in the transports. we saw fedex reporting disappointment. oracle reported disappointment. cart pillar come under some pressure. is this indicative of a tough earnings period in the first quarter? >> that's what i think, maria. but the market doesn't seem to care. the market doesn't care about anything. it...
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Mar 26, 2013
03/13
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the environment seems to be improving. pinnacle can always do another acquisition. the company is paying you to wait to get their house fully in order with that great dividend. let's not forget, last week ken powell was on the show, he told us that food inflation has peaked and competition is less fierce? that could help these guys. pinnacle foods reminds me of long-time "mad money" winner b&g. they've got some truly iconic ones under the roof. i think you should try to get in on this ipo. that's why i did this story money. call your broker tomorrow. i like it even if they raise the price. even if they take it up to $22 a share. at that point, let's pause, that may be too high. after the break, i will try to make you more money. >>> coming up -- invest in innovation. it's not the latest gadget that could drive profit in your portfolio. medical science is leading the way with breakthrough technology. tonight, cramer's kicking off a week-long series highlighting some of the most revolutionary companies that may be heading higher. [ male announcer ] i've seen incredibl
the environment seems to be improving. pinnacle can always do another acquisition. the company is paying you to wait to get their house fully in order with that great dividend. let's not forget, last week ken powell was on the show, he told us that food inflation has peaked and competition is less fierce? that could help these guys. pinnacle foods reminds me of long-time "mad money" winner b&g. they've got some truly iconic ones under the roof. i think you should try to get in on...
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Mar 19, 2013
03/13
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eye 168
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right now, they're in a great environment. because on top of that, those numbers look great. inventory is low. prices are going up. interest rates are low, which translates to home buyer ability to buy more homes. and we know new homes are more expensive. the big head winds we're facing right now are artificial headwinds. they don't have to deal with the real estate market. those are uncertainty in terms of what the government is going to decide on the rules for qualified residential mortgages under dodd frank which translates to how readily available mortgage loans will be in the next year or so. and, of course, the tax issues with the fiscal cliff and is congress going to be looking at the mortgage interest deduction and other incentives that ever traditionally supported home ownership and doob a deal breaker for a lot of buyers looking to move up. >> what has helped? is it these targeted policies by the government? is it generally that the central bank has been so aggressive? talking about the way foreclosures have been handled, too, which method has yielded the most succe
right now, they're in a great environment. because on top of that, those numbers look great. inventory is low. prices are going up. interest rates are low, which translates to home buyer ability to buy more homes. and we know new homes are more expensive. the big head winds we're facing right now are artificial headwinds. they don't have to deal with the real estate market. those are uncertainty in terms of what the government is going to decide on the rules for qualified residential mortgages...
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Mar 21, 2013
03/13
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of the economy that are growing, despite all the negative and worries out there, as far as the macro environment. >> okay. but what about the fact that, you know, we were talking about this yesterday, bill, the s&p is expecting earnings growth, the s&p 500, of 0.7% for the first quarter. so we are looking at an earnings deterioration here. now, they're expecting things to pick up later on in the year. but if you're saying there is growth in the economy, but overall earnings are going to grow just 0.7%, is that priced into the market, or will this be a negative surprise? >> i really think that you have to go out there and you have to focus on individual companies. you can find pockets of growth within small and midcap stocks that aren't necessarily, you know, tied to what's going on with the macro environment out there. and that's where i think active portfolio management becomes more and more important in this type of vurenvironment. >> let's bring rick santelli into this conversation. does cyprus matter to this market or not? we move them here or there and then it comes back again, depending on
of the economy that are growing, despite all the negative and worries out there, as far as the macro environment. >> okay. but what about the fact that, you know, we were talking about this yesterday, bill, the s&p is expecting earnings growth, the s&p 500, of 0.7% for the first quarter. so we are looking at an earnings deterioration here. now, they're expecting things to pick up later on in the year. but if you're saying there is growth in the economy, but overall earnings are...
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Mar 22, 2013
03/13
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you figure if you're in a really strong economic environment, the on si opposite is what you expect to get. i'd be more concerned about financials for the reasons you suggest. >> let's go to goldman sachs, dan. you are looking to put a bearish trade on goldman. >> not having much to do about goldman other than it happened to be the weakest. this is one of the best banks out there. this is one that you want to buy on dips, if you believe in the u.s. financial system in a lot of ways, okay? but on a relative basis, like, we just said, you know, the euro stocks, the bank index got nailed this week. and it down 3.5% on the year. the xlf is up 10% on the year. so, when i think about goldman sachs, we just mentioned the stress test, these are one of the two guys that were flagged as far as having deficiencies in risk management. you think of the great quarter they had in q-4. the stock has been off to the races since then. so, what i want to really just look at is, in the next couple weeks, the next month and a half, when you think about what's gone on in the last two years in this time peri
you figure if you're in a really strong economic environment, the on si opposite is what you expect to get. i'd be more concerned about financials for the reasons you suggest. >> let's go to goldman sachs, dan. you are looking to put a bearish trade on goldman. >> not having much to do about goldman other than it happened to be the weakest. this is one of the best banks out there. this is one that you want to buy on dips, if you believe in the u.s. financial system in a lot of ways,...
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Mar 26, 2013
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i think we're in a moderate growth economic environment. while i think that's going to improve, it means a lot of statistics will be choppier and more volatile, and if we start seeing a string of not strong statistics, that will make people nervous and fall out of it. >> could your pause be the seasonality that we traditionally see in the may time frame in the market? >> i think some of it is seasonal. it's interesting because bad news comes out in the spring as well. so there's seasonality on the bad news front as well. >> let's get a market flash from josh lipton. a name moving in the after hours session >> lions gate and cbs teaming up, forming a joint venture to run the cable network tvgn and tv guide.com. cbs acquired the 50% stake in the cable network and website from one equity partners, the private equity arm of jp morgan. terms of the deal not disclosed, but reports saying cbs was expected to pay some $100 milli million. cbs and lions gate will enter a 50-50 partnership for the channel and website. >> josh lipton, thanks so much fo
i think we're in a moderate growth economic environment. while i think that's going to improve, it means a lot of statistics will be choppier and more volatile, and if we start seeing a string of not strong statistics, that will make people nervous and fall out of it. >> could your pause be the seasonality that we traditionally see in the may time frame in the market? >> i think some of it is seasonal. it's interesting because bad news comes out in the spring as well. so there's...
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Mar 21, 2013
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and i think in that kind of environment, the fed will start to taper the pace of qe. sometimes in q3 and, yes, by the end of this year, i expect the qe to stop. but rates will be very low and the fed's balance sheet will be bloated for quite a long time. >> given the issues in europe, why take the risk? why even hint to markets that they may be exiting? or paps why not leave the accommodative can policies in place to help support the global economy? >> as we move into the summer, i think at that point the cost of this continued open ended deposit continues. i think they've come to the conclusion they don't need it as much. i think at that point, europe will probably be a little more stable. >> joe, in a word, jobless claims today, then, critically important. >> very important. i think they'll stay well below 350. >> it's an important level to watch. appreciate your time. from thank you, kelly. >> thank you for joining us on the show today. i'm kelly evans. this has been "worldwide exchange." time now for "squawk box" in the u.s. remember, people, keep an eye out for t
and i think in that kind of environment, the fed will start to taper the pace of qe. sometimes in q3 and, yes, by the end of this year, i expect the qe to stop. but rates will be very low and the fed's balance sheet will be bloated for quite a long time. >> given the issues in europe, why take the risk? why even hint to markets that they may be exiting? or paps why not leave the accommodative can policies in place to help support the global economy? >> as we move into the summer, i...
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Mar 21, 2013
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we need to protect their environment. we have a strict quarantine system to protect the integrity of the environment. forty years on, it's still a class-a nature reserve. it's our job to look after them. ...it's my job to look after it. ♪ >>> >>> welcome back to "the kudlow report." i'm larry kudlow. stocks may have dropped today but we've still got even more good news on the economy. now does that mean bern bernanke is going take his foot off the gas pedal sooner rather than later? that might be what's rather bothering stock investors. and where is the new jack kemp now that we need him? a republican who related to everyone with an optimistic but simple message of economic growth for all, we will ask lar larry sabateau in just a few minutes. >> a tax is a tax is a tax. if you tax something more, you get less of it. piling on new taxes is always bad for economic growth period. and yet out of washington comes yet another proposal for another tax. this one known as the marketplace fairness act but it is just a national in
we need to protect their environment. we have a strict quarantine system to protect the integrity of the environment. forty years on, it's still a class-a nature reserve. it's our job to look after them. ...it's my job to look after it. ♪ >>> >>> welcome back to "the kudlow report." i'm larry kudlow. stocks may have dropped today but we've still got even more good news on the economy. now does that mean bern bernanke is going take his foot off the gas pedal sooner...
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Mar 22, 2013
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i think in this environment you don't do it. you break it down by sectors. a lot of the sector calls we've heard over the last couple wekts have been go after materials, go after technology that are lagging. they're going to come around and outperform again. i disagree with that. if you look today, the s&p 500 new 52-week highs, 36 of them 18 are consumer staples. i am adding to my financial names, american express, michael kors h but i want to be in consumer staples, in financials. i want to be what's leading the market right now. i don't want the commodity materials trade. >> put this into perspective. you could find a story that works for you this week. >> you can. and what's surprising to me is that the market is so strong going into the weekend with the deadline for cyprus right upon us. i would have to expect that the market is going to sell off, weaken a little bit, not go negative today as we move into the close and there's no resolution. where you want to be is pretty much where joe said. you have to go with what's working. i notice the airlines act
i think in this environment you don't do it. you break it down by sectors. a lot of the sector calls we've heard over the last couple wekts have been go after materials, go after technology that are lagging. they're going to come around and outperform again. i disagree with that. if you look today, the s&p 500 new 52-week highs, 36 of them 18 are consumer staples. i am adding to my financial names, american express, michael kors h but i want to be in consumer staples, in financials. i want...
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Mar 19, 2013
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nike's a fantastic company, but even nike cannot replicate the lulu environment. i don't think they're opening a wedge for competitors. i do think they've opened a wedge of sorts with investors. and they've got to fix that. i think it's unfortunate that the communication was not more elaborate. but looking forward to learning more on thursday. >> so this is a quality problem, right? in asia, where, of course, these pants have been manufactured, do you think that lululemon might now do the currently increasing trend of onshoring their manufacturing? >> maybe. but i think it's more of a -- i don't think so. but i think this is not about the product make, this is about the material make. and i think it means that they probably, they might have gotten -- again, we don't have the information. they might have gotten a little bit lackadaisical on the kind of people they had on the ground and the quality control that they needed on the ground. >> faye, very quickly, tell us why we shouldn't be afraid to buy a stock at what, 12, 13 times book value when under armour is tra
nike's a fantastic company, but even nike cannot replicate the lulu environment. i don't think they're opening a wedge for competitors. i do think they've opened a wedge of sorts with investors. and they've got to fix that. i think it's unfortunate that the communication was not more elaborate. but looking forward to learning more on thursday. >> so this is a quality problem, right? in asia, where, of course, these pants have been manufactured, do you think that lululemon might now do the...
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Mar 19, 2013
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we need to protect their environment. we have a strict quarantine system to protect the integrity of the environment. forty years on, it's still a class-a nature reserve. it's our job to look after them. ...it's my job to look after it. ♪ >>> all right. welcome >>> all right. welcome back, everybody. first up, last week, president obama told a tv interviewer he didn't have immediate debt crisis. or we in america don't have an immediate debt crisis. and this weekend speaker boehner said basically the same thing. >> we do not have an immediate debt crisis. but we all know that we have one looming. >> all right. you know what, i think they both could be right. i don't think we have an immediate debt crisis. i like to see more growth, not just debt root canal. oh, my god, i said it. that's, by the way, why the business round table of american ceos is pushing hard for a lower, more competitive, more pro-growth 25% corporate tax rate. so let's talk about this. steve forbes, judd gregg, jared bernstein, still with us. all righ
we need to protect their environment. we have a strict quarantine system to protect the integrity of the environment. forty years on, it's still a class-a nature reserve. it's our job to look after them. ...it's my job to look after it. ♪ >>> all right. welcome >>> all right. welcome back, everybody. first up, last week, president obama told a tv interviewer he didn't have immediate debt crisis. or we in america don't have an immediate debt crisis. and this weekend speaker...
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Mar 18, 2013
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i think that we're in a very low interest rate environment that continues to create this wealth effect and the money continues to go to the stock. >> got to leave it there, ben. thank you so much for your time today. >> thank you. >> want to show people quickly what's happening in gold and copper. copper is selling off. we talked briefly about china on the program, but the message should be it's not about a country of 1 million of 0.2% of zero gdp. it's about china and whether global growth jitters are coming back to the fore. with that in mind, we'll hand you over to "squawk box." thank you so much for tuning in. have a great day and hope to see you back here tomorrow.
i think that we're in a very low interest rate environment that continues to create this wealth effect and the money continues to go to the stock. >> got to leave it there, ben. thank you so much for your time today. >> thank you. >> want to show people quickly what's happening in gold and copper. copper is selling off. we talked briefly about china on the program, but the message should be it's not about a country of 1 million of 0.2% of zero gdp. it's about china and whether...
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Mar 20, 2013
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and there's a lot of operating leverage as volumes improved as the new regulatory environment sets in. so i think there's a good -- there's a good path forward. depends on exactly when this final tournament is, whether this is the one to pick for a near term. but, you know, if we're talking about a marathon for sure, i think it fits in there. >> your price target is $155, right? >> yeah, so we're close to that. >> upside case you say 235. what gets you to 235 if that's your best case? >> well, 235 would obviously involve higher, stronger earnings outlook, and that would come about as a result of, you know, faster pace of investment banking activity, trading volumes, continued, you know, sharp rise in asset prices like we've seen, and then translating that into a higher price to book multiple. >> and then finally, explain this, you say your downside case is $75 a share. so those who want to be conservative here, what's the problem? what would be the tipping point that would get you there? >> renewed onset of global financial crisis concerns. >> okay. okay. evan, facebook as you know, g
and there's a lot of operating leverage as volumes improved as the new regulatory environment sets in. so i think there's a good -- there's a good path forward. depends on exactly when this final tournament is, whether this is the one to pick for a near term. but, you know, if we're talking about a marathon for sure, i think it fits in there. >> your price target is $155, right? >> yeah, so we're close to that. >> upside case you say 235. what gets you to 235 if that's your...
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Mar 21, 2013
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what is the ideal asset allocation in this environment in your view? >> i can't change just because the market becomes more volatile or you become more emotional. if you have a plan and say it's 70% equities and 30% fixed income, you might readjust and reallocate after big market moves but not based on the fear in the market place. 70/30 tends to be ideal according to data, giving you the biggest return with the least amount of volatility. retirees, or people getting older, typically have larger amount in fixed income. the one thing you do at this point, take a look and when rates are down, shorten those, reduce the volatility. you don't want to take risk in the part of your portfolio that's supposed to be safe. regis will tell you that. >> i would have his back on that. >> everybody would have regis's back. he's going to retire. >> he's never going to retire. >> it's all about the process. if regis isn't part of the process, what do you have? >> i couldn't agree more. >> when you're ready to get out of treasuries, don't you have to have level and timi
what is the ideal asset allocation in this environment in your view? >> i can't change just because the market becomes more volatile or you become more emotional. if you have a plan and say it's 70% equities and 30% fixed income, you might readjust and reallocate after big market moves but not based on the fear in the market place. 70/30 tends to be ideal according to data, giving you the biggest return with the least amount of volatility. retirees, or people getting older, typically have...
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Mar 26, 2013
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environment. and you have to look at fiscal policy and monetary policy in the same way. the last five years every investor has been worried about their cash because they haven't wanted to own equities because they are worried about the armageddon skin narrow. >> right. >> so what happens you start to buy insurance. put options or you hold cash or buy 30-year treasuries. you know, after the policies from the ecbmt or the fed program you have derisked a lot of that. now people are reducing their insurance. that means cash is coming off the sidelines. >> the fed is forcing out the curve a little bit. >> the fed is reducing the probability of the systemic shock. >> okay. >> in which case investors are looking to do other things with their money. the yield curve is. now people are putting more money into equities because of the evaluations. david said it before. you're still trading 14 times forward earnings. equity risk premium still looks yield. ie, bonds look attractive. >> they were very attractive
environment. and you have to look at fiscal policy and monetary policy in the same way. the last five years every investor has been worried about their cash because they haven't wanted to own equities because they are worried about the armageddon skin narrow. >> right. >> so what happens you start to buy insurance. put options or you hold cash or buy 30-year treasuries. you know, after the policies from the ecbmt or the fed program you have derisked a lot of that. now people are...
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Mar 22, 2013
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if you are too punitive of the other 100k depositors, then you hit the financial offshore of the environment. the choice should be obvious to the majority, at least to the european monetary union. >> and most people would assume before depositors were ever looked at as a source of cash, it would be the bondholders that got hit. if cyprus has to raise 67 billion and there's only 1.7 billion in bonds to go after, that won't solve the problem. should they still, though, have tried it? >> i think the natural way to proceed is first feed equity, then junior debt and then senior debt and, last, depositors. and that would very last insure the depositors. so yes, indeed. as you rightly pointed out, it's around 11.7 of which the majority is bailin. but the senior debt is just around 300 million, not billion, for the three largest banks. so it's very, very little. >> and angel gorria in that interview was saying next time or in general, someone has to pay and it should be the critters. nevertheless, antonio has to leave us. thank you for your time. we want to get back out to julia. now that russia has
if you are too punitive of the other 100k depositors, then you hit the financial offshore of the environment. the choice should be obvious to the majority, at least to the european monetary union. >> and most people would assume before depositors were ever looked at as a source of cash, it would be the bondholders that got hit. if cyprus has to raise 67 billion and there's only 1.7 billion in bonds to go after, that won't solve the problem. should they still, though, have tried it?...
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Mar 25, 2013
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>> yeah, i think in this environment, actually, it could. >> with the three potential proposals on the table? >> yeah, absolutely. and that's because generally i'm bearish on the market. >> i would have never guessed that. >> let's call it 14. my risk/reward's not bad. i don't have to worry. it's not going to trade with the market. i don't have to worry the market being down 2% and dell going to be down. >> there's 1.75 billion shares outstanding, you're talking about 20 cents, 30 cents, talking about huge sums of money on this bid that's going higher. i don't think it happens. >> let's move on to the next trade here, s&p 500 wiped away earlier gains. less than a point away amid concerns that cyprus' bank restructuring will pave the way for losses. for more impacts on the cyprus deal, we're joined by the global head of g10 strategy at citigroup. it seems that the whole problem arose, the problem today in terms of trading when the dutch finance minister gave an interview and indicated the cyprus deal could be a template, his word, for future bailouts and then sort of backed away from it
>> yeah, i think in this environment, actually, it could. >> with the three potential proposals on the table? >> yeah, absolutely. and that's because generally i'm bearish on the market. >> i would have never guessed that. >> let's call it 14. my risk/reward's not bad. i don't have to worry. it's not going to trade with the market. i don't have to worry the market being down 2% and dell going to be down. >> there's 1.75 billion shares outstanding, you're...
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Mar 22, 2013
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lyric can also give you exceptionally clear, natural sound in quiet and noisy environments because of how it works with your ear's own anatomy. can your hearing aid do all this? lyric can. to learn more about lyric's advanced technology, call 1-800-411-5534 or visit trylyric.com for a risk-free 30-day trial offer and free dvd and brochure. get the hearing aid that can. lyric from phonak. lyric can. ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it. >>> back now with today's return on retirement. 66,000, that's what charles schaub investors with more than $250,000 in assets think they could live on each year in retirement. the problem, the same investors are making about $115,000 on average right now from their jobs. so they are going to need to start saving more or spending less
lyric can also give you exceptionally clear, natural sound in quiet and noisy environments because of how it works with your ear's own anatomy. can your hearing aid do all this? lyric can. to learn more about lyric's advanced technology, call 1-800-411-5534 or visit trylyric.com for a risk-free 30-day trial offer and free dvd and brochure. get the hearing aid that can. lyric from phonak. lyric can. ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to...
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Mar 22, 2013
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they can't do as well in this environment. why is qlik view doing well if oracle can't? >> i think we are in one spot, they're total market. i think we drive the next generation of software. ease of use, time to value, agility and flexibility are the key drivers. more and more corporations are seeing that. if i don't empower my employees to make smarter decisions, i'm missing out on a big opportunity. we've been in that business for 20 years. we only focused on the user and the user's behavior when it comes to interacting with data. >> mark benioff has been on our show from sales force. he's trying to develop a dashboard people can use, sales people can use on the road, for instance. why is yours better than his or do they work together? >> they work together. i think mark built a great company. he's disrupted an industry just like we are doing in this industry we are in. one of our most common data sources for our clients is his system. so we sit on top of sales force and maybe two or three other sources and provide you with a dashboard of insight from those data source
they can't do as well in this environment. why is qlik view doing well if oracle can't? >> i think we are in one spot, they're total market. i think we drive the next generation of software. ease of use, time to value, agility and flexibility are the key drivers. more and more corporations are seeing that. if i don't empower my employees to make smarter decisions, i'm missing out on a big opportunity. we've been in that business for 20 years. we only focused on the user and the user's...
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Mar 26, 2013
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companies with existing infrastructures are aren't driving in this environment because no one is building, and that just makes it so the profits flow right to the bottom lines of the companies you're buying. "mad money" will be right back. >>> coming up. sink or swim. few stocks have been hit harder than the shippers. but could the tide be about to turn for the most sea worthy? tonight, cramer is wading into the group to find out. in a special nautical edition of "off the charts." >>> and later, bill of health. all week, cramer's checking out the cutting-edge science behind some of the biggest players in the biotech industry. tonight, a company forming a pipeline to fight devastating diseases. is it time to get behind their efforts. >>> plus, extended stay. from beverly hills to the sun-soaked florida coast, ashford hospitality trust owns rooms with a view across the country. as travel spending continues to increase, could it provide the perfect accommodations for your cash. cramer talks with the ceo. all coming up on "mad money." >>> don't miss a second of "mad money." follow @jimcramer
companies with existing infrastructures are aren't driving in this environment because no one is building, and that just makes it so the profits flow right to the bottom lines of the companies you're buying. "mad money" will be right back. >>> coming up. sink or swim. few stocks have been hit harder than the shippers. but could the tide be about to turn for the most sea worthy? tonight, cramer is wading into the group to find out. in a special nautical edition of "off...
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Mar 19, 2013
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i'd love to know how citi holdings is doing in this rising environment. >> there's a lot to like. i like citi here and there you have the opening bell here. visa celebrating five years of trading on the nyse and at the nasdaq, the academy of nutrition and dietetics celebrating national nutrition month. >> by the way, speaking of banks and refinancing, the american consumer continues to refinance their household debt either through a refi of their actual home or taking out another credit card with a zero balance or low-balance offer and transferring the balance. visa was a $69 stock two years ago and it's opening today at about $159, right? >> look at that gain. in a market where people are still weak and we still have a tough consumer. >> remember, big international play. >> yes. much more so than ma. >> and it's just a very well-run company. >> a lot of american guys who have been good and have also been run by a foreign individual, and i don't mean to be phonetic, but this is a big worldwide company. >> i changed banks recently because my bank ceased banking so i got a new bank
i'd love to know how citi holdings is doing in this rising environment. >> there's a lot to like. i like citi here and there you have the opening bell here. visa celebrating five years of trading on the nyse and at the nasdaq, the academy of nutrition and dietetics celebrating national nutrition month. >> by the way, speaking of banks and refinancing, the american consumer continues to refinance their household debt either through a refi of their actual home or taking out another...
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Mar 19, 2013
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it seems pension funds are taking on a lot more risk, and whether that's a bad thing in the current environment to be doing with what is essentially the public's money. >> yeah, i think it shows how short they are of opportunities to invest money and what hedge funds are having to do to try and achieve those returns. there are gray henl funds and happy clients, but there's too much money in the industry overall to achieve the objectives that people have. >> simon, one of the major trends in asset management right now are products that are supposed to be able to deliver hedge fund-like strategies, but obviously, without the performance fee, but just taking an internal expense ratio. i have two questions for you on that. one, do you really think that that's something that can possibly be delivered in that manner? and, two, is that something you think large pension funds will ever take a liking to given how pedestrian an etf is, versus, you know, a $6 billion hedge fund? >> sure, a lot depends on the quality of the manager running the money, right? >> right. >> everybody knows fees are ridiculous.
it seems pension funds are taking on a lot more risk, and whether that's a bad thing in the current environment to be doing with what is essentially the public's money. >> yeah, i think it shows how short they are of opportunities to invest money and what hedge funds are having to do to try and achieve those returns. there are gray henl funds and happy clients, but there's too much money in the industry overall to achieve the objectives that people have. >> simon, one of the major...
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Mar 20, 2013
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. >> well, i think when you look at things right now you're looking at low interest rate environment. that's something we have been in for a long time. i think that's going to continue certainly we'll know more about that when we hear more from the fed. i think that's one. when you look at buying a home, versus renting a home, i think the advantage goes to the buying. look at what lennar has going, new orders are up 34%. we're up at $43, i missed it. i think it's doing higher. >> doc, what's going on? >> for 2013 i do think it's going higher, but in the short term the index of home builder confidence, these are the actual people swinging the hammers and so forth is now at a three-month slide. in other words, after having eight months of just very positive outlook, now they're negative. and you've got input costs. all the costs because of superstorm sandy and all the rest have increased for the guys. the problem for the home builders is supply. they don't have enough of it. so demand is there. supply and demand that's what you have to balance out. but they have too much demand. they do
. >> well, i think when you look at things right now you're looking at low interest rate environment. that's something we have been in for a long time. i think that's going to continue certainly we'll know more about that when we hear more from the fed. i think that's one. when you look at buying a home, versus renting a home, i think the advantage goes to the buying. look at what lennar has going, new orders are up 34%. we're up at $43, i missed it. i think it's doing higher. >>...
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Mar 26, 2013
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there it's getting scarce. >> no growth environment in europe. >> yes. you look at verizon doing a phone deal. at&t is the apple company, and t-mobile. that's what i said. this is phone-icide. whey don't they say don't use us? don't come to us. we're more expensive than everybody. that's a great pitch, right? >> overall, we beat the consensus forecast, which would be a touch under 88%. we're in 8.1% over the last 12 months. >> they were supposed to be better. there was supposed to be content if they were driven by social. now we're seeing them get away from social ads and seeing more so-called suggested posts, which are really just drerkt markirec marketing. that's basically what it is. >>> good morning. we're live here and beginning with breaging knew on citi. kayla? >> the federal reserve is charging citigroup with inadequate oversight for the money laundering practicing. it's unclear what nature of the inefficiencies were, but it comes after several banks have been caught in cross hairs dealing with countries like iran and libya. it carries no monetar
there it's getting scarce. >> no growth environment in europe. >> yes. you look at verizon doing a phone deal. at&t is the apple company, and t-mobile. that's what i said. this is phone-icide. whey don't they say don't use us? don't come to us. we're more expensive than everybody. that's a great pitch, right? >> overall, we beat the consensus forecast, which would be a touch under 88%. we're in 8.1% over the last 12 months. >> they were supposed to be better. there...
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Mar 18, 2013
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continental also works and we're seeing synergy and the corporate focus makes it's good bet where the environment is growing. if you had to own an airline it should be alaska air because there's no more competition and it looks more and more like a last scare and it has a beautiful balance sheet and beautiful growth prospects and they have decent fuel hedges and plus, they're still working through the benefits of the airtran composition and just last week we heard from the ceo, spirit airlines right here, that's the best-run low-cost player in the sector with terrific growth. remember, the ceo of save -- yeah, the cool -- despite his low-cost structure, he's not competing with the majors. he's adopted what i call a we willy killer hit them where they hit strategy. just google it. here's the bottom line, in the real world, we might not be able to invest in genuine unfettered, gorgeous monopolies like the rails, but oligopoly is the next best thing, and the airline business is the newest oligopoly out there. i like the three big boys the best, delta, united continental and especially u.s. airways a
continental also works and we're seeing synergy and the corporate focus makes it's good bet where the environment is growing. if you had to own an airline it should be alaska air because there's no more competition and it looks more and more like a last scare and it has a beautiful balance sheet and beautiful growth prospects and they have decent fuel hedges and plus, they're still working through the benefits of the airtran composition and just last week we heard from the ceo, spirit airlines...
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Mar 25, 2013
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we see the uncertainty in the markets and business environment has been reduced. which it does set up though is it's going to make corporate leadership to dividend increases. >> one of the most interesting things of the notes that i'm reading from you today, stocks are not cheap, you say, which is certainly contrary to what we have heard from other people who say, yeah, they are cheap. >> it's a relative game, too, right? steve was talking before the break about japan and europe we tried to get our clients exposed to those markets. japan is much more attractive in terms of valuation multiples. you've got to go in and, of course, hedge 2 currency risk. >> the bond market, the great rotation where yields are relative to equities and how ones should be best positioned there? >> you've got to be prepared positioning now for a eventual rise in the interest rates. the fed program unmost precedented support on monetary terms is coming to an end. if you look at 150 basis point rise in the ten year, that will take you to 3 1/2. 30 years, 4 3/4. for a long-term bondholder i
we see the uncertainty in the markets and business environment has been reduced. which it does set up though is it's going to make corporate leadership to dividend increases. >> one of the most interesting things of the notes that i'm reading from you today, stocks are not cheap, you say, which is certainly contrary to what we have heard from other people who say, yeah, they are cheap. >> it's a relative game, too, right? steve was talking before the break about japan and europe we...
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Mar 19, 2013
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maria's question, last quarter we heard a lot of ceos talking about the lack of clarity in the global environment. i know a lot of the digital marketing dollars right now are based in the u.s. but these numbers seem pretty bullish to me. do you feel better or more cautious than last quarter when you look out at the rest of the year from here? >> jon, i think the macro trend is more spend is going to go digital. and when people talk about big data, we're the big data company for marketers. so as you talk about the hundreds of billions of dollars, where people are going to want to know what the return of investment is, there is no other company that's as well positioned as adobe, to really let them know how to spend that money and to accurately reflect what the return of investment is. so we think that the macro trends will fuel this business for many years. >> so what would be an appropriate growth -- yes, what would be an appropriate growth rate, then, for adobe? obviously, your stock is trading higher in the extended hours. a lot of people very pleased with the earnings results that we saw. is t
maria's question, last quarter we heard a lot of ceos talking about the lack of clarity in the global environment. i know a lot of the digital marketing dollars right now are based in the u.s. but these numbers seem pretty bullish to me. do you feel better or more cautious than last quarter when you look out at the rest of the year from here? >> jon, i think the macro trend is more spend is going to go digital. and when people talk about big data, we're the big data company for marketers....
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continental also works and we're seeing synergy and the corporate focus makes it a good bet where the environment is growing. if you had to own an airline it should be alaska air because there's no more competition and it looks more and more like alaska air it has a beautiful balance sheet and beautiful growth prospects and they have decent fuel hedges and plus, they're still working through the benefits of the airtran composition and just last week we heard from the ceo of spirit airlines right here, that's the best-run low-cost player in the sector with terrific growth. remember, the ceo of save -- yeah, the cool symbol -- despite his low-cost structure, he's not competing with the majors. he's adopted what i call a wee willie keeler hit them where they ain't strategy. just google it. here's the bottom line, in the real world, we might not be able to invest in genuine unfettered, gorgeous monopolies like the rails, but oligopoly is the next best thing, and the airline business is the newest oligopoly out there. i like the three big boys the best, delta, united continental and especially u.s. ai
continental also works and we're seeing synergy and the corporate focus makes it a good bet where the environment is growing. if you had to own an airline it should be alaska air because there's no more competition and it looks more and more like alaska air it has a beautiful balance sheet and beautiful growth prospects and they have decent fuel hedges and plus, they're still working through the benefits of the airtran composition and just last week we heard from the ceo of spirit airlines...
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60
Mar 20, 2013
03/13
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in an environment where, yes, we've bailed out aig, you think they're going to let that company go down again? absolutely not. nobody likes them anymore. their business is being destroyed, whittled away, but the stock's had quite a run. i say aig on this round. >> you know who has to break this tie, the viewers. let's find out who you voted for on twitter. and it was goldman sachs. the winner is goldman sachs. look at tim running around. >> insane. >> sorry about that. >> come on. >> i wouldn't catch that -- >> act like you've been there before. >> goldman sachs advances to the next round. thank you, viewers out there for tweeting your responses. as you can see, you really do break the ties here on the desk. >>> let's move to the industrial region based on our votes earlier today, united technology's caterpillar, deere -- >> hold on a second, haven't we killed all the deere? >> deere with an "e." dupont and honeywell beating out the competition, but the battle between valero and transocean will be settled right now. so, again, we go to the left side, my left side of the desk, guy? >> no
in an environment where, yes, we've bailed out aig, you think they're going to let that company go down again? absolutely not. nobody likes them anymore. their business is being destroyed, whittled away, but the stock's had quite a run. i say aig on this round. >> you know who has to break this tie, the viewers. let's find out who you voted for on twitter. and it was goldman sachs. the winner is goldman sachs. look at tim running around. >> insane. >> sorry about that....
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123
Mar 21, 2013
03/13
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it's a different environment. now they just play off the s&p, it gets to a level, people get back in, gets to a resistance, and they get back out. it's in and out, real quick. >> the number you would get, it changes on a daily basis. >> constantly, constantly. >> down 87 points here. we keep waiting for this correction. do you think we're going to be there at some -- it seems that each time we get this sell-off, somebody comes in to buy it up. >> again, the programs come in and buy it right up. you would like to see a correction, you would like to see this market correct, wash out a lot of things, but i don't think it's going to happen right now. i really don't. i think this market, as long as the feds keep injecting $85 billion a month, it's going to keep drifting up. it's going to leak up, like i say. >> well, it's leaking down right now, alan valdez. thanks for being with us here. we're heading towards the low. at the low of the day, we were down 128 points. right now, down about 88 on the dow jones industrial
it's a different environment. now they just play off the s&p, it gets to a level, people get back in, gets to a resistance, and they get back out. it's in and out, real quick. >> the number you would get, it changes on a daily basis. >> constantly, constantly. >> down 87 points here. we keep waiting for this correction. do you think we're going to be there at some -- it seems that each time we get this sell-off, somebody comes in to buy it up. >> again, the programs...
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94
Mar 25, 2013
03/13
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american saver is earning far less than they would have in a non-qe and nonzero interest rate policy environment. the federal reserve has drilled rates down to zero because they cannot get gdp to grow because of tight regulation on the middle class. with zero percent rates, the saver earns next to noing, and the typical american family has no access to the american credit markets. >> i think we have a table we want to put up. you're basically saying that u.s. deposits are a little different from the cyprus story. u.s. savers have been badly damaged by the federal reserve policy. >> it's basically like a tax. if interest rates were at 2%, u.s. savers would earn 2% a year. last four years, they would have compounded out at 9%. instead, their earnings are basically zero, and they're underwriting the profits of the banks. >> jimmy, your response? >> you look globally at long-term interest rates, where are they going globally? down, down, down, even where banks aren't doing quantitative easing. those low rates reflect a weak economy. people aren't one thing. sure, they're savers, but they're also equ
american saver is earning far less than they would have in a non-qe and nonzero interest rate policy environment. the federal reserve has drilled rates down to zero because they cannot get gdp to grow because of tight regulation on the middle class. with zero percent rates, the saver earns next to noing, and the typical american family has no access to the american credit markets. >> i think we have a table we want to put up. you're basically saying that u.s. deposits are a little...
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61
Mar 21, 2013
03/13
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i think the environment for u.s. equity markets is still favorable. one other thing out there as well including the takeaway from yesterday's fed meeting. my daughter was a swimmer, right, and swimming was all about tapering for events, right in the fed made it clear they are not going to go cold turkey and simply shut it off. what they will do is based on the conditions they will taper the amount of support they provide in terms of the purchases through qe3 so that will continue to be a fairly important backstop rule with the macro outlook as well as financial markets. >> i'm looking at your sector over and underweights. there seems to be kind of a relative value and mean reversion theme to the stocks you like, telecom and health care relatively expensive, utilities as well, on the list where you don't want to be there and tech industrials on the positive side. don't you agree though that there's something secular happening with those stocks where because they pay such high yields they should continue to do pretty well relative to the s&p, even thoug
i think the environment for u.s. equity markets is still favorable. one other thing out there as well including the takeaway from yesterday's fed meeting. my daughter was a swimmer, right, and swimming was all about tapering for events, right in the fed made it clear they are not going to go cold turkey and simply shut it off. what they will do is based on the conditions they will taper the amount of support they provide in terms of the purchases through qe3 so that will continue to be a fairly...